Order Also Imposes Civil Penalty of $1.7 Million On Samuel Daley and
Advent Capital Partners, Ltd.

WASHINGTON, D.C. – The U.S. Commodity Futures Trading Commission
(CFTC) announced today that a Georgia federal district court entered an
order of default
judgment in its favor requiring defendants Samuel
Daley (Daley) and Advent Capital Partners, Ltd. (Advent), to pay
$662,954 in restitution to defrauded investors and a civil penalty of
$1,721,093 as a result of their violations of federal commodity laws.

The court’s order finds that from at least December 21, 2000 through
May 2002, defendants solicited funds from investors, purportedly to trade
“spot” foreign currency (FOREX) contracts. However, the order
finds that defendants actually engaged in trading illegal, off-exchange
futures contracts.

The court’s order, entered on April 1, 2003, stems from a
complaint
filed by the CFTC against Advent and Daley in the United States District
Court for the Northern District of Georgia on May 21, 2002 (see CFTC
News Release 4697-02). On August 7, 2002 and November
21, 2002 defaults were entered against Advent and Daley, respectively, for
their failure to respond to the CFTC’s allegations.

The court’s order also permanently enjoins defendants from further
violations of section 4(a) of the Commodity Exchange Act and imposes a
permanent trading ban.

The following staff members of the CFTC Division of Enforcement are
responsible for this case: Eugene Smith, Michael Jones, Peter Haas, and
Karen Kenmotsu.